Sections
Menu

News

14/11/24

CHINA: OECD says SAR’s tax agreements not complying with key minimum standard, Gov’t addressing issue

14/11/24

UK: HMRC probes into serious tax fraud and avoidance fall to lowest level in six years

14/11/24

EU: European Commission puts forward proposal (DAC9) to simplify Pillar 2 implementation

14/11/24

US: Trump win puts global corporate tax deal ‘in peril’

14/11/24

EU: Dutch Efforts to Enhance EU Crypto Tax Laws

14/11/24

EU: Trade Tensions at UN Climate Conference as Developing Nations Challenge EU's Carbon Border Tax

Articles

Fact File

Fact File Supplied By

Samoa International Finance Authority

Location

South Pacific Ocean

Time zone

UTC/GMT,+13h.

Population

205,557 (as of 2021).

Capital

Apia

Airport(s)

Faleolo International Airport.

Language

English, Samoan

Currency

Samoan Tala (SAT)

Political System

Parliamentary democracy consisting of 53 members of parliament elected by citizens 21 years and over. The Constitutional Amendment Act reserves 10% of the seats for women.

International Dialing Code

+685

Legal System

Common Law, Westminster based system as is the case with Commonwealth countries.

Centre's expertise

International Business Companies (IBCs), foundations and trusts.

Personal income tax

Progressive.

Corporate income tax

27%

Exchange restrictions

None.

17 TIEAs

San Marino, Monaco, Netherlands, Ireland, Australia, Sweden, Finland, Greenland, Iceland, Norway, The Faroe Islands, Denmark, New Zealand, Mexico, South Africa, Japan and Republic of Korea.

Permitted currencies

US$.

Minimum authorised capital

None.

Minimum share issue

None.

Shelf companies

Yes.

Timescale for new entities

For IBCs one day, or less than 24 hours. For other licensed entities the timescale is dependent on application and supporting documents received.

Incorporation fees

USD $300.

Annual fees

As above or as prescribed by the Registrar.

Minimum number

One.

Residency requirements

Must be non-residents and non-citizens of Samoa or as provided for under the relevant legislation.

Corporate directors

Permitted.

Meetings/ frequency

Whenever directors consider meeting necessary they can be held anywhere in the world or electronically.

Disclosure

None.

Bearer shares

Prohibited under the International Companies Act 1988.

Minimum number

None.

Public share registry

None.

Meetings/frequency

Whenever directors consider meeting necessary to be held.

Annual return

None.

Audit requirements

Every international company shall appoint a registered company auditor within 90 days of its incorporation. An auditor of an international company shall carry out an audit in respect thereof in each audit period. Every auditor shall report to the members as to his or her audit and matters disclosed thereby and shall give such further reports and information as are required by regulations made under the International Companies Act 1988.

Recent Legislation

• Tax Information Exchange Amendment Act 2017
• Stamp Duty Amendment Act 2017
• Trustee Companies Act 2017

Pending Legislation

• Miscellaneous (International Companies Tax Removal) Amendment Bill 2024 which amends the following primary laws:
o International Companies Act 1988
o International Banking Act 2005
o International Insurance Act 1988
o Special Purpose International Companies Act 2000
• Income Tax Amendment Act 2024

Registered office

Every IBC must have a registered office in Samoa.

Domicile issues

Permitted under the International Companies Act 1988 and other international financial services laws.

Company naming restrictions

Undesirable names in the opinion of the Registrar or names containing restricted words as determined by the Registrar.